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Nov 6, 2012
11/12
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new york's mayor estimates as many as 40,000 people in new york city may need temporary housing. but officials don't yet have a solution. the cost of the damage is staggering: between $30 and $50 billion, according to disaster modeling firm eqecat. and the possibility of more dislocated people will only make the road to recovery more difficult. erika miller, "n.b.r.," new york. >> tom: there is no doubt the damage left from sandy will take years to repair and the memories of the storm certainly will last lete for those in h path. but she's just the latest natural disaster long-term investors have been faced with. i recently spoke with mark hebner, the founder and president of index funds advisors, asking him how long term investments should look at hurricane sandy. >> if they're holding a full equity portfolio they really should be looking at time horizons of like 15 or maybe even 20 years to hang on to that investment, to be in a position to have a reasonably good chance of catch tung the expected return of that portfolio. what is the risk, though, and the impact of the storm on
new york's mayor estimates as many as 40,000 people in new york city may need temporary housing. but officials don't yet have a solution. the cost of the damage is staggering: between $30 and $50 billion, according to disaster modeling firm eqecat. and the possibility of more dislocated people will only make the road to recovery more difficult. erika miller, "n.b.r.," new york. >> tom: there is no doubt the damage left from sandy will take years to repair and the memories of the...
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Nov 24, 2012
11/12
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terry lundgren in new york this morning and began by asking him how sales are going. both in store and on-line. >> they're both growing and that's the good news for us and while the online business has been spectacular for macy's for several years, we really look at the consumer as an omnichannel consumer. so she comes in, she does her research on her phone. she decides what store she wants to shop. what items she wants to shop for. maybe going back to her desk and pulling the trigger there. so i think that's what happening today. so the line between online and physical stores is blurred. >> reporter: the past several years consumers have opened their wallets around the holidays but come january it seemed that that optimism faded. what are you expecting come january 2013? >> we've had 11 consecutive quarters of consistent growth of sales and earnings at macy's inc. we've found the formula. a lot of retailers depend on january to be a clearance month. whatever we didn't sell in december, we'll sell at a discount in january and in our case we're trying to buy the right
terry lundgren in new york this morning and began by asking him how sales are going. both in store and on-line. >> they're both growing and that's the good news for us and while the online business has been spectacular for macy's for several years, we really look at the consumer as an omnichannel consumer. so she comes in, she does her research on her phone. she decides what store she wants to shop. what items she wants to shop for. maybe going back to her desk and pulling the trigger...
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Nov 1, 2012
11/12
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meanwhile, the effects of the monster storm are paralyzing much of new jersey and new york city here's an update: fr and a ha mlion pple are still without power, and it could take another ten days before power is restored. limited flights have resumed at all of the airports in the new york area. public schools are still closed in the city, as well as many schools in new jersey. and filling up on gas is the toughest problem of all. gas stations are running dry, and others do not have electricity to pump gas. motorists lined by the hundreds in new jersey, waiting and hoping for fuel. still ahead, we have more on sandy: flood insurance, the cost of getting power turned back on, and the challenge of getting around america's busiest city. >> tom: october marked a pick-up in private hiring. that's the word from payroll processing firm adp. it says u.s. private payrolls grew by 158,000 positions in october. that higher than expected number comes as adp overhauls how it calculates the number by including more companies in its survey. darren gersh reports. >> reporter: the economic signals out
meanwhile, the effects of the monster storm are paralyzing much of new jersey and new york city here's an update: fr and a ha mlion pple are still without power, and it could take another ten days before power is restored. limited flights have resumed at all of the airports in the new york area. public schools are still closed in the city, as well as many schools in new jersey. and filling up on gas is the toughest problem of all. gas stations are running dry, and others do not have electricity...
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Nov 2, 2012
11/12
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york city marathon. that and more tonight on "n.b.r.!" we begin with jobs. employers beefed up their payrolls last month, adding more jobs than expected as more americans counted themselves among the labor force. the official labor department count shows 171,000 jobs were created last month. that's much stronger than the 125,000 analysts were looking for. and the government revised its september new job count up to 148,000. thanks to more people looking for work, the unemployment rate rose slightly to 7.9%. darren gersh has the story from washington d.c. >> reporter: the october employment report makes it clear a jobs recovery is solidly underway. >> i think the k message tre is that employment growth has been taken up a notch. over the last three months we've added over 170,000 jobs on average. that's a little bit better than what we've been seeing. that is enough over the long haul to bring the unemployment rate down, but slowly. >> reporter: one of the best things about this jobs report: payroll gains
york city marathon. that and more tonight on "n.b.r.!" we begin with jobs. employers beefed up their payrolls last month, adding more jobs than expected as more americans counted themselves among the labor force. the official labor department count shows 171,000 jobs were created last month. that's much stronger than the 125,000 analysts were looking for. and the government revised its september new job count up to 148,000. thanks to more people looking for work, the unemployment rate...
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Nov 29, 2012
11/12
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erika miller reports from one of the most expensive cities to fill 'er up. >> reporter: here in new york city, the long lines and gas rationing are finally gone, but there's more good news. like the rest of the nation, gas is actually cheaper now than before superstorm sandy. a month ago, superstorm sandy shut down refineries in the northeast, delayed oil shipments and left many gasoline stations without power. in some hard hit areas, prices spiked more than ten cents a gallon. but now, the situation has drastically improved here and around the country. regular unleaded costs an average of $3.42 nationwide. that's 12 cents below where it was a month ago. but drivers are still paying about 12 cents more for gas today than a year ago. a big reason is escalating middle east tensions. >> anytime you have that kind of conflict in the middle east, whether it's the israelis or the egyptians, the syrians, it really the disruption of flow, you know. any time you get a problem in the gulf, it's really going to hinder oil prices. >> reporter: if the recent cease-fire between hamas and israel in the
erika miller reports from one of the most expensive cities to fill 'er up. >> reporter: here in new york city, the long lines and gas rationing are finally gone, but there's more good news. like the rest of the nation, gas is actually cheaper now than before superstorm sandy. a month ago, superstorm sandy shut down refineries in the northeast, delayed oil shipments and left many gasoline stations without power. in some hard hit areas, prices spiked more than ten cents a gallon. but now,...
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Nov 1, 2012
11/12
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here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global predicts that if the a as affected by sandy lose a quarter of their output for just two days, it would knock out $25 billion off u.s. economic growth in the fourth quarter. that could be as much a 0.6%. but longer-term, some of the financial losses should be recovered by repair and rebuilding eorts. home improvement stores like home depot and lowes wngl likely get a boost in sales. many construction jobs will be created to rebuild homes and businesses. and governments will be spending huge amounts of money to repesr subways, roads, and bridges sor allf those efforts should help boost economic activity early next year.e erika miller, "n.b.r. new york. >> susie: joining us now for a closer look at sandy's economic impact, mark zandi, chiefb. economist at moody's analytics. you know, mark, people often hear that when there's a sdater like zandi, that it's actually a boost to the economy. is that going t
here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global predicts that if the a as affected by sandy lose a quarter of their output for just two days, it would knock out $25 billion off u.s. economic growth in the fourth quarter. that could be as much a 0.6%. but longer-term, some of the financial losses should be recovered by repair and rebuilding eorts. home improvement stores like home depot and lowes wngl likely...
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Nov 3, 2012
11/12
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. >> tom: still ahead, the new york city marathon is cancelled. what it means for advertisers of this world class event. that encouraging employment report didn't do much for stocks on wall street. stocks oped higher, but sellers took over.d the dow closed down 139 points, the nasdaq lost almost 38 points, the s&p closed off 13. for the week, the dow fell 0.1%. the nasdaq was down 0.2%. the s&p gained 0.2% this week. we'll talk more about the marts a little later in the program with our friday market monitor guest.ts he's duncan richardson at eaton vance. an update on the aftermath of hurricane sandy now. with temperatures dropping, tempers are flaring in some areas struggling with no per and dwindling food and clean water. >> this is staten island. four days after hurricane sandy brought her destructive winds ng storm surge of atlantic seawater. across the hudson river from new york, some new jersey neighborhoods remain inundated with flood waters. low temperatures this weekend are forecast to be close toas freezing. the official count from the a
. >> tom: still ahead, the new york city marathon is cancelled. what it means for advertisers of this world class event. that encouraging employment report didn't do much for stocks on wall street. stocks oped higher, but sellers took over.d the dow closed down 139 points, the nasdaq lost almost 38 points, the s&p closed off 13. for the week, the dow fell 0.1%. the nasdaq was down 0.2%. the s&p gained 0.2% this week. we'll talk more about the marts a little later in the program...